"Vietnam's growth potential is robust, given an export manufacturing sector that is well-diversified and increasingly oriented toward higher value-added goods, a rising share of services and manufacturing in economic output, and the growth of the private sector," S&P said in a statement.

Prime Minister Nguyen Tan Dung said this month the country was targeting GDP growth of around 5.8% this year, followed by 6% in 2015 and 6.5% a year for the following four years.